The completion of a project to install 32 additional lifts across 16 Hiyaa towers—a key pledge of the current administration's first 100 days—was celebrated last night.
Housing Development Corporation (HDC) awarded the contract to China’s Shenyang Yuanda Intellectual Industry Group on February 12, 2024. The initial completion date was set for January 30, 2025.
However, after failing to meet that deadline, the completion date was pushed to April 15, 2025. When it became clear that even this timeline was unattainable, HDC organized a press site visit on April 9, 2025, announcing that the installation would finally be completed by the end of November 2025.
Seven months later, the completion of the lift installation was celebrated with a grand ceremony. The project was awarded to the Chinese firm for USD 18 million, equivalent to MVR 278 million. This figure is comparable to the total construction cost of two towers in the "Amaan" housing project.
Industry experts have raised concerns over the project's cost, noting that HDC awarded the contract at a rate of USD 562,500 (MVR 8.3 million) per lift—a price described as exceptionally high by local firms in the sector.
Under the project, two additional lifts have been installed in each Hiyaa tower, with each lift having a minimum capacity of 21 passengers.
One company told Adhadhu that the estimated cost per lift, including the necessary structural work, should typically be around MVR 2.5 million. At this rate, the total cost for 32 lifts would amount to approximately MVR 80 million.
Another firm suggested that even at a maximum estimate, the work should not exceed MVR 5 million per lift, covering the steel structures, labor, and installation. Even at this higher valuation, the total project cost would have been MVR 160 million—significantly lower than the final expenditure.
